Safe Secure Methods To Make Regular International Payments
Over a period of time we have seen a tremendous increase in number of people migrating
from one country to another to benefit from better educational facilities, job opportunities and economy as a whole. Most of them migrate alone living behind friends and families thereby necessitating regular international payments to and fro to meet financial requirements at both the ends.Years back regular international payments were difficult to make and involved high level of risks as there was less security of funds and people doubted if the money will be delivered to the right person. However today we are able to make safe international money transfer within a short period of time thanks to the technology advancement and collaborations between banks.
There are many different ways to make safe secure regular international payments. Which one to use will depend on the speed with which you want to transfer money and your safety concerns for the foreign currency exchange. Using internet to send money is of course the fastest and the most convenient way to make regular international payments but entails security issues. Hence you need to consider some other options which may not be so convenient but are really very safe for foreign currency exchange.
Lets have a look at few traditional yet effective safe secure methods of making regular international payments:
Method 1: Postal Money Order: Though less used in recent time internet world, postal money order has traditionally been the safest way to make international money transfer. However, before you approach nearest post office to make the foreign currency exchange check the USPS website to see if the country where you want to send money is included in its list. If it is there, you can proceed with the process but remember it is lengthy process and the money can take longer to reach the destination address. It also includes money transfer fee of $10 or $12 and a single money order can be used to transfer not more than $700. You will thus need two money orders to transfer an amount greater than this.
Method 2: International Wire Transfer: Another trusted option to make international money transfer is international wire transfer. Though it is a bit expensive it is the safest, easiest and fastest way to make foreign currency exchange. Through wire transfer, money can be transferred directly into the recipients account and for this you will need recipient bank details like bank name, branch name, account number and routing number (can be obtained from the bank). Once the transfer is initiated from your bank inform the transfer details to the recipients. This will help cross check the transaction if in case there are delays.
Method 3: Online Transfer: As mentioned above this might not be all that safe but is a good option to consider if you have to make urgent international money transfer. It is also the most convenient and time saving option for the sender but a little cumbersome for the recipient. There are many companies which provide online foreign currency exchange facility and how safely you transfer money online will depend on your skills to find the best online international money transfer company.
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